Just went on holidays to a "resort town" in WA, school holidays here and yet the place was almost deserted.
Went to an auction on the last day, approx. 20 blocks went on sale from a liquidator, about 3 sold, the rest barely got a bid let alone made their reserve.
Blocks with ocean views were only getting bids of around 50K, passed in at 60K.
Felt sad for the real estate agent who paid to erect the marque, the auctioneer, the marketing costs etc.
Also felt sad for the people who had bought in the same estates 12months - 2 yrs ago and paid 130, 150K for the same blocks that are now not even worth 60K.
